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Effect of Indirect Taxation on Economic Development of Nigeria

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Effect of Indirect Taxation on Economic Development of Nigeria


Ezu, Gideon Kasie | Jeff-Anyeneh Sarah. E.



Ezu, Gideon Kasie | Jeff-Anyeneh Sarah. E. "Effect of Indirect Taxation on Economic Development of Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-1, December 2021, pp.417-425, URL: https://www.ijtsrd.com/papers/ijtsrd47781.pdf

This study examined the effect of indirect taxation on economic development of Nigeria. The specific objectives were to; evaluate the effect of petroleum profit tax on the real gross domestic product of Nigeria, examine the impact of company income tax on the gross domestic product of Nigeria and determine the impact of value added tax on the real gross domestic product of Nigeria. The study adopted ex-post facto research design. The study made use of secondary data obtained from the Central Bank of Nigeria Statistical Bulletins for the relevant years. The hypotheses were tested using granger causality statistical tool. The following findings were made for this study: Petroleum profit tax has no significant effect on the gross domestic product of Nigeria. Company income tax has significant effect on the gross domestic product of Nigeria and value added tax have significant effect on the gross domestic product of Nigeria. The study concluded that; about 96% changes in the dependent variable are explained by the independent variable. The study recommends that Government should make available more non-interest loans available to farmers as a way of diversifying the economy from its over dependency in the oil sector, and that strict penalties should be meted to people who avoid and evade tax payments in order to minimize the incidence of tax evasion and tax avoidance.

taxation, revenue, industrialization, unemployment


IJTSRD47781
Volume-6 | Issue-1, December 2021
417-425
IJTSRD | www.ijtsrd.com | E-ISSN 2456-6470
Copyright © 2019 by author(s) and International Journal of Trend in Scientific Research and Development Journal. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0) (http://creativecommons.org/licenses/by/4.0)

International Journal of Trend in Scientific Research and Development - IJTSRD having online ISSN 2456-6470. IJTSRD is a leading Open Access, Peer-Reviewed International Journal which provides rapid publication of your research articles and aims to promote the theory and practice along with knowledge sharing between researchers, developers, engineers, students, and practitioners working in and around the world in many areas like Sciences, Technology, Innovation, Engineering, Agriculture, Management and many more and it is recommended by all Universities, review articles and short communications in all subjects. IJTSRD running an International Journal who are proving quality publication of peer reviewed and refereed international journals from diverse fields that emphasizes new research, development and their applications. IJTSRD provides an online access to exchange your research work, technical notes & surveying results among professionals throughout the world in e-journals. IJTSRD is a fastest growing and dynamic professional organization. The aim of this organization is to provide access not only to world class research resources, but through its professionals aim to bring in a significant transformation in the real of open access journals and online publishing.

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